For example, for most of the past decade, the economy was in recovery mode. However, as far as the real estate industry was concerned, it was marked by increasing mortgage interest rates on single-family home prices. As a result, many renters in several developed countries paid over 30% of their income just on their homes, according to Ahmed Nashaat of London.
Industry professionals spent a lot of time learning to adapt to developments related to the rise of residential communities and what have been called "second cities."
Traditional properties in established hubs are giving way to housing in surrounding suburban areas. Those who choose to stay are keen on transit access and work walkability.
The rise of what is being called "pop-up leases" has also become the norm in many areas, as retail services give way to more immediately available or urgent health and fitness establishments, financial services, and healthcare clinics.
According to Ahmed Nashaat of London, many properties have amenities such as gyms and other fitness areas. In addition, everything from movie theaters to communal gardens is sprouting under the same roof, following the phenomenal rise of mixed-use development.